So far, the sector of decentralised finance (DeFi) has been built almost exclusively on Ethereum, but given the network’s congestion issues and high gas fees, many users and developers are turning their attention to faster and cheaper blockchains with smart contract functionality.
One of the most successful of these contenders to Ethereum has been Binance Smart Chain (BSC). In fact, according to a report from DappRadar last month, BSC overtook Ethereum in terms of transaction volume and unique active wallets in February 2021.
There are certainly some promising projects in the BSC ecosystem, but with over 100 different cryptocurrencies now integrated with Binance Smart Chain, it’s hard to know which ones are worth your time – let alone your money.
To make things easier, we’ve compiled everything you need to know about some of the most exciting projects building on BSC right now, as well as their potential for future growth.
Ramp – Cross liquidity for staking rewards
Ramp was launched in October 2020 by Lawrence Lim and Loh Zheng Rong – both of whom previously came from backgrounds in finance and blockchain. The project, which is considered as part of the DeFi sector was created to make the staking economy more efficient.
Ramp offers cross-chain liquidity bridges, staking rewards and yield stacking to create multiple revenue streams and farm RAMP tokens. With the Ramp protocol, anyone can use non-ERC20 tokens on the Ethereum blockchain by first converting them into stablecoins called rUSD. Similarly, ERC20 stablecoins can be deposited to mint eUSD, which can be used in Ramp’s liquidity pool.
At the start of March 2021, Ramp integrated with the Binance Smart Chain. Users can now swap RAMP (ERC20) tokens for RAMP (BSC20) tokens to use on PancakeSwap.
